So, it’s not particularly “fun.” But I’ve got videos about how the government plans to address the economic crisis for you this morning.
My biggest issue while listening to President Bush’s speech is that he seem very concerned about making sure that Americans have access to more debt. He wants to get the credit markets moving so that we can get car loans and other consumer loans. This is a problem. It is this very reliance on debt as an economic driver that has us in this mess to begin with.
I mean, we were to the point where the “smart” institutional investors were turning debt into packaged investments and speculating on them. The whole issue is that we’ve become an economy that runs on debt. And eventually that debt catches up to you. Because it has to be paid back. So it worries me that the primary solution to this current problem is to keep making it possible to get into more debt.
The entire way we think as a society and an economy needs to be overhauled.